Legal & General Group Plc lowered its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 840,406 shares of the company's stock after selling 74,412 shares during the quarter. Legal & General Group Plc owned approximately 0.69% of Phillips Edison & Company, Inc. worth $31,482,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in PECO. Allspring Global Investments Holdings LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth approximately $488,000. Barclays PLC boosted its stake in Phillips Edison & Company, Inc. by 49.2% during the 3rd quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after purchasing an additional 92,129 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock worth $80,371,000 after buying an additional 51,186 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Phillips Edison & Company, Inc. by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 595,165 shares of the company's stock valued at $22,295,000 after buying an additional 17,235 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of Phillips Edison & Company, Inc. by 24.8% in the fourth quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock valued at $2,047,000 after buying an additional 10,865 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PECO has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Mizuho cut their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.
Check Out Our Latest Research Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Up 1.8 %
NASDAQ:PECO traded up $0.64 during midday trading on Friday, reaching $36.18. The stock had a trading volume of 652,048 shares, compared to its average volume of 700,729. The stock has a market cap of $4.53 billion, a P/E ratio of 72.36, a P/E/G ratio of 1.70 and a beta of 0.57. The firm has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $36.96. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.40%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 246.00%.
Phillips Edison & Company, Inc. Company Profile
(
Free Report)
Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.
See Also
Before you consider Phillips Edison & Company, Inc., you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phillips Edison & Company, Inc. wasn't on the list.
While Phillips Edison & Company, Inc. currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
